(Bloomberg) — Nigerian oil production slumped almost 20% in April as Exxon Mobil Corp. workers went on strike, bringing to an end a recent rally.
Output of crude and condensate in Africa’s largest producer declined to below 1.25 MMbpd last month, according to government data. Nigeria had held daily levels steady at between 1.41 million and 1.55 million barrels since November, after it fell to multi-decade lows in the preceding months with the authorities blaming rampant theft from onshore pipelines.
The main driver of April’s dip was industrial action by Exxon employees that began on April 13 and caused the U.S. major to declare force majeure across its operations. While an end to the walkout was announced two weeks later, the company’s output declined by more than half last month compared with March.
Source: www.worldoil.com
Author: William Clowes, Bloomberg